Economy
NGX Rebounds by 0.03% as Market Breadth Closes at Equilibrium
By Dipo Olowookere
For the first time this week, the Nigerian Exchange (NGX) Limited closed in positive territory on Thursday after it traded higher by 0.03 per cent on renewed bargain-hunting.
The market was lifted by the buying pressure in the consumer goods and industrial goods sectors, which appreciated by 0.20 per cent and 0.09 per cent, respectively. The insurance sector also gained 0.20 per cent during the session.
However, the banking counter depreciated by 0.82 per cent and the energy index fell by 0.39 per cent.
It was observed that the losses printed by the two sectors could not bring down the bourse as the other three counters provided the support needed to stay upright.
Consequently, the All-Share Index (ASI) rose by 14.06 points to 44,332.21 points from 44,318.15 points as the market capitalisation grew by N8 billion to N24.147 trillion from N24.139 trillion.
During the trading day, investors transacted 119.2 million shares valued at N3.2 billion in 2,909 deals, in contrast to the 165.4 million shares worth N3.7 billion exchanged in 3,183 deals in the midweek session, indicating a decline in the trading volume, value and number of deals by 27.90 per cent, 12.87 per cent and 8.61 per cent, respectively.
Fidelity Bank was the busiest equity on Thursday as it sold 39.4 million units of its stocks, followed by GTCO, which sold 8.3 million units. Japaul traded 6.8 million shares, Jaiz Bank transacted 4.4 million stocks, and Access Holdings exchanged 4.4 million equities.
Business Post reports that the market breadth was at equilibrium yesterday as the exchange finished with the same number of price losers and gainers, 17.
CWG gained 9.59 per cent to sell at 80 Kobo, UPDC REIT appreciated by 8.93 per cent to trade at N3.05, Japaul went up by 7.69 per cent to close at 28 Kobo, Coronation Insurance chalked up 5.88 per cent to sell for 36 Kobo, and Dangote Sugar expanded by 3.92 per cent to trade at N15.90.
On the losers’ chart, Beta Glass was on top after it lost 9.98 per cent to settle at N41.50, Aluminium Extrusion Industries depreciated by 9.72 per cent to end at N6.50, Mutual Benefits went down by 9.68 per cent to 28 Kobo, RT Briscoe also declined by 9.68 per cent to finish at 28 Kobo, and Regency Assurance retreated by 7.69 per cent to 24 Kobo.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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